Hirav Shah’s continuous streak of accurate predictions have made him a brand in the field of Business Astrology in the Country.
Shah’s predictions for any business are worth their weight in gold, indeed and there are numerous testimonies to this, as well.
Meanwhile, Hirav Shah, who is India’s most Influential Business Strategist & Astrologer, here outlines the most effective E-Commerce Marketing Strategies but first he throws some light on E-Commerce and its types.
Have you ever bought shoes, jackets or anything else on the Internet? Or, perhaps you have used the Internet to sell your old mobile or laptop? If yes, then you have participated in E-commerce.
The term E-commerce is an abbreviation for “Electronic Commerce”.
E-commerce, also known as electronic commerce, is a process by which businesses and consumers sell and buy goods and services through an electronic medium.
Types of E-Commerce :
1) Business-to-Consumer (B2C)
In this business, a business sells products or services directly to the consumer on the Internet.
For example, you buy anything from Amazon, Flipkart or any other site.
2) Business-to-Business (B2B):
Here companies sell products or services to other companies on the Internet.
In this type of E-commerce, both participants are businesses, as a result, the volume and value of B2B e-commerce can be very large.
3) Consumer-to-Consumer (C2C)
When the consumer sells his product to another consumer on the Internet, this transaction is called Consumer-to-Consumer (C2C).
In this, a consumer sells his property like his old car, bike directly to the other consumer through the internet.
Generally, these transactions are done through third parties, which provide online platforms. For this, many companies like Olx,Quikr charge the consumer for service or provide free service.
As per a report by Statista, revenue in the E-commerce market is anticipated to reach US$ 50, 000 million in 2021. User penetration is expected to be 40% by the end of 2021 and 61.8% by 2024. The largest segment of this market is Electronics & Media with an anticipated US$15, 000 million market volume in 2021.
Some top E-commerce websites in India are Amazon, Flipkart, Myntra, Snapdeal, Alibaba, Shopclues, etc.
Whatever be the size, shape, or nature of your E-commerce store, you are sure to face challenges in starting an E-Commerce business when it comes to attracting and retaining customers online for your store. With so much clutter online, increased competition, and high social media and search engine advertising costs, it’s becoming increasingly difficult to turn a profit on your E-Commerce store.
How will you be able to crack the E-Commerce Marketing puzzle?
How will you be able to draw in potential customers and retain them?
Well through the below mentioned-
Ten Effective E-Commerce Marketing Strategies.
1) Stress on your existing customers — When you find that you are unable to get new customers, shift your focus to the existing ones. Customer retention strategies are more cost-efficient and easy to convert. As they are already aware of your brand, they are more likely to generate more revenue for you every time they visit your website. When they become your loyal customers, they would recommend you to others and in this way, you can acquire new customers too.
2) Show that your site is trustworthy — Security is one of the most significant concerns for buyers. There have been too many victims of credit card fraud in recent years. You must understand the fear of your prospects and work to gain their trust. You should display any of the security badges that your website is using to prove that you are trustworthy. Do not try to lie or mislead your customers, this could lead you to face some legal trouble.
3) Use video illustrations — Videos can increase the engagement and interests of your prospects. People tend to retain what they see more than what they read. Showing how a particular product can help is much more effective than just listing it up. It appeals to a wide range of prospects. It is a great way to sell new products that are unique and creative.
4) Include photos in customer testimonials — Customer testimonials are great to gain the trust of your prospects. But why would anyone trust someone nameless and faceless? Therefore, when you include photos of your customers in the testimonials, it proves to be much more effective.
5) Make your website mobile-friendly — People do not usually have the time to turn on their desktops or laptops when it comes to online shopping. It would be more convenient for them to use their mobile phones to shop anywhere, anytime while traveling, doing household work, etc. If your website is not mobile-friendly, you will probably lose a lot of potential customers.
6) Showcase your best-selling products — Show your prospects what the best products on your website are. Whenever a prospect visits your website, they may not be planning to purchase something but when you show them some of your best products, they would be tempted and most of the time end up purchasing them. Moreover, it also gives your prospects a direction when they feel confused.
7) Promote more on holidays — People buy more on holidays than on a normal day of the year. Shopping malls are usually packed up on these days. You can use this situation to your advantage. Let people sit on their comfortable sofa and shop with the help of your website. You can use social media marketing, email marketing, etc. to promote more on holidays.
8) Create a fear of missing out — You must create a sense of urgency when you are trying to sell something. This will make sure that your prospects do not defer while buying; they might think that they would make a purchase some other day but that day may never come. There are various ways in which you could create urgency such as limited stocks left, flash sales, etc.
9) Accept different options for payment — Understanding that different people are comfortable with different options of payment is essential. Some may choose a debit card, some credit card, or for some cash on delivery would be the best. If you do not want to lose any potential customer, try to accept all types of payment options.
10) Offer Referral discounts —
Referral discounts are the classic marketing tactics to promote your online store, especially to reach new customers. Remember Uber’s free rides? When a friend invited you to use Ola to book a ride, they got discounted rides as soon as you booked a ride on Ola.
You can offer similar discounts to your customers on their purchase as soon as their referrals purchase on your store. Emails are a great way to put this to work, just use any tool to send your customers an email asking them to refer their friends and the reward they would get in return.
You could also offer free shipping if your prospect purchases above a certain amount. That would prove helpful in encouraging bulk sales.
There you have it, Hirav Shah’s marketing strategies which you can use to increase your eCommerce success in 2021.
By using Hirav Shah’s guidelines, you’ll increase your overall reach, get more leads, up your conversion rates, and increase your revenue.
Astro-Strategist Hirav Shah is a well known Business Strategist whose answers and expert opinions have proven to be game changers for numerous businesses/ industries. The best thing is Hirav Shah is extremely approachable and you are just a question away from him.
So, why wait any longer?
You know who to “Ask”, now.